Bahrain’s vehicle market continues 6-months positive streak up to September 2024. Total monthly sales registered 2,841 units (+11.1%). YTD sales up to 25,293 (+15.2%).
Market Trend and Outlook
Bahrain’s economy is forecasted to grow by 3.5% in 2024, primarily driven by the non-oil sector, which is expected to expand by nearly 4% thanks to a recovery in tourism, service sectors, and ongoing infrastructure projects. Despite these positive trends, the economy remains heavily dependent on hydrocarbon revenues, making it vulnerable to price fluctuations in the medium term.
Additionally, the country faces significant structural challenges, including elevated debt levels and financing needs, as well as limited private sector participation, with the public sector continuing to be the largest employer.
In line with the overall economic trend, Bahrain’s vehicle market increased by 11.1% in September 2024, while totaling 2,841 sales. YTD figures up to 25,293 registrations (+15.2%).
Looking at cumulative data up to September brand-wise, the leader was still Toyota with a 11.9% increase in sales while holding 30.4% of the market, followed by Nissan, which gained 31.5%. Hyundai ranked in 3rd spot with a 4.1% year-on-year increase in sales.
The best-selling car was the Nissan Sunny which grew by 30.7% in year-on-year sales, followed by the Toyota Land Cruiser -up 1 spot- down by 8.4% in year-on-year volume.
Medium-Term Market Trend
The economic crisis correlated with the fall of oil price in the international market hit the Bahrain automotive industry in 2016, with a delay compared with the other countries in the Gulf region. Indeed the market scored the all-time record in 2015, with 65,042 sales, before a sharp decline to 38,000 units in 2017.
In 2018 the market was flat while in 2019 it was again in a deep fall.
Indeed, in 2019 the economy was further hit by the government’s decision to introduce VAT tax from January 2019, with the effect to increase inflation and reduce consumer purchase power. Several consumer goods industries have declined and the automotive was certainly among them. Indeed, in the Full-year sales have been 31,836, down 18.1%.
Due to the COVID-19 pandemic sales fell in 2020. In fact, 26,437 units have been sold, reporting a decline of 16.9% compared to 2019.
In 2021 the year started slightly negatively for the Bahrain market, in fact, in Q1 7,251 units have been sold, reporting a 1.5% decrease in sales compared to Q1 2020, while in Q2 sales started growing again, reporting a 23.8% increase in sales with 6,428 units sold.
In Q3 sales kept gaining 7.7% with 6,428 units, followed by a 8% drop in Q4 with 7,227 sales.
Indeed, Full-Year sales for 2021 have been 27,528, reporting a 3.7% increase compared to 2020.
In Q1 2022 sales dropped 16.7% with 5,853 units sold but started recovering 3.2% in Q2 with 6,483 units sold.
Sales in 2023 grew by 14.7%, while totaling 29,702 total sales.
Tables with sales figures
In the tables below we report sales for Top 10 Brands.
